Repsol, the Spanish Energy company, has made the largest gas find in Indonesia in 18 years. The discovery was made in the Sakakemang block in South Sumatra. The KDB-2X well in South Sumatra provides preliminary estimation of at least 2 TCF of recoverable resources or over 250 million barrels of oil equivalent. As an operator, Repsol holds a 45% working interest, while PETRONAS and MOECO owns 45% and 10% respectively.
The discovery is located 25km away from the Grissik gas plant which has the ability to gather and process production from ConocoPhillips-operated Corridor PSC. Corridor PSC is the main supplier of gas to Singapore and West Java. Repsol’s gas discovery came as a positive source for new supply to prolong the life of the Corridor PSC.
Repsol will continue the exploratory work in the coming months with an additional planned appraisal well. It has cooperated closely with SKK Migas on the exploration activity and continues to work on the next steps with Indonesian authorities.
SKK Migas, Indonesia’s upstream regulator, has been upbeat in its exploration efforts notwithstanding a decline in new investment activity. It is targeting of a discovery of at least one new giant field (500 million boe) by 2023.
(Sources: Energy Voice; Energy Global)